View and explore our new local business directory

NEWS POLITICS

Cost-of-living crisis mini-budget set for next Friday

Cost-of-living crisis mini-budget set for next Friday

1 year ago 986 views

...
 
...
By Nation Cymru

The so-called “fiscal event”, promised by Prime Minister Liz Truss as part of her plans to grow the economy and tackle soaring inflation, will be announced by Kwasi Kwarteng on September 23, the PA news agency understands.

MPs are expected to sit in the Commons on Thursday, according to a parliamentary business paper.

Parliamentarians will then be asked to sit a day longer before going into their conference break, to allow Mr Kwarteng to set out his mini-budget.

It follows days of speculation about when the fiscal event could take place and whether, given the scale of the cost-of-living crisis predicted for this winter, MPs should return early.

The timing for the fiscal event is highly constrained, with Parliament currently suspended while the country is in mourning following the death of the Queen, and the Prime Minister expected to fly to New York for the United Nations General Assembly following the monarch’s funeral on Monday.

Ms Truss promised the fiscal event during the Tory leadership campaign, as concerns grew over rising energy bills and the expectation of a difficult winter for households.

Her bid to become Prime Minister won over grassroots members with promises of tax cuts and a pledge to put a stop to the planned rise in corporation tax. The mini-budget follows in the wake of an unprecedented multibillion-pound package to tackle sky-high energy bills and ease the cost of-living crisis, with a focus on capping prices and boosting domestic energy supplies.

The news of the multibillion-pound package was immediately overshadowed by the death of the Queen, leaving many outstanding questions about how it will be funded and what other measures might accompany it.

  Sign up today

Click here to get your free All About Newtown account today and get localised stories and much more.

9 stories left to view without an account.

 Read the rest of this story on nation.cymru

Get involved (0 comments)

You must be signed in to comment. Sign up for a free account now.


Related or similar stories based on this one

Image for the article County councillors approve budget
County councillors approve budget

1 month ago

Image for the article Are you getting all the Cost-of-Living support you are entitled to?
Are you getting all the Cost-of-Living support you are entitled to?

1 year ago

Image for the article Cabinet approved Discretionary Cost of Living Support Scheme
Cabinet approved Discretionary Cost of Living Support Scheme

1 year ago

Image for the article How much will you be paying in Council Tax from April?
How much will you be paying in Council Tax from April?

1 year ago

Image for the article Welsh Government reveal their budget for next year
Welsh Government reveal their budget for next year

3 months ago

Image for the article School budgets under deficit pressure
School budgets under deficit pressure

4 months ago

Follow us

Connect with us on Facebook, X (formerly Twitter) and Instagram

   

Trending
 
Easter treat for visitors to award winning attraction
 
Police searching for Audi 'getaway' car
 
MMP success at professional awards
Donate to us

We're a not-for-profit community interest company and have no corporate owners. We'd appreciate anything you can give to keep us providing free content.

  Donate via PayPal
Upcoming Events
Landscapes and Seascapes Exhibition

02/04/24 09:30am Newtown Library

Nintendo Switch

02/04/24 10:00am Newtown Library

Digital Friends’ Group

03/04/24 09:30am Newtown Library

Latest Stories
 
Gregynog awarded 246k in conservation funding
 
Easter treat for visitors to award winning attraction
 
Police searching for Audi 'getaway' car